The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-07-09
DUN & CO.'S BUSINESS REVIEW.
Returns Generally Satisfactory, Though Some
Anxiety L. Caused by Speculation.


Anxiety Is Caused by Speculation.
NEW YORK, July s.-R G.. Dun & Co., in their
weekly review of trade, ssy: The business of a
broken week has been on the whole, encourag-
ing. The prospects with which the half year
OPENS generally satisfactory, and yet fnan-
cial uncertainties are not entirely removed. and
there remain great speculative operations which
disturb and threaten. Crop prospects continue
good, though reliable reports of injury from
drought and bugs come from western Nebraska
Southern reports are uniformly favorable as to
cotton. An increase Of 10 per cent in the acreage
of hay is reported, with a probable increase OF
yield in all sections except in the central West,
though the quality is not quite satisfactory.
Wheat has been in large demand, the exports
from Atlantic Ports having reached 10, 800 600
bushels for five weeks; but the supply carried
is about anticipated. California
carries over about 8. 300 600 bushels with prices
30 per cent. above the parity of Liverpool. a sit
uation which may have significance, but holders
talk of keeping their stock through the year. At
New York the great decline which followed the
June corner has invited large export buying and
prices stiffen little.
The weekly output of iron July was 1OS. $50
TONS gain Of l. 122 tons in june but many fur
naces are still idle. because of the unsettled
coke-workers' strike, and the output is about
%, 900 tons less than on May /. The half years
production, g. ISL 217 tons, s about $40. 900 more
than that of last years first half. Dealers talk
of rise in prices for time, though later in the
year, and the increasing production may cause
reaction. The financial situation at New York
is better. because the treasury disbursements
have exceeded receipts by nearly 81 900, 600 the
past week. but at some Western and Southern
points, especially where real-estate sales and
building have been active. tightness of money
appears. Thus money is ''close' at Nashville,
active" at to per cent. a. Cleveland, and in
building permits for 81 900, 900 have been issued
this year. Western cities have been paying
back part of the heavy loans made here to meet
emergencies after the wheat collapse, but banks
at Cincinnati feel that it is proper to maintain a
strong position and prefer not to outside their
regular customers. Here, feeling prevails that
disturbance resulting from great speculations,
may not be over, and that the unsettled deals in
railroads and the stock market need close watch
ing After some recovery, stocks were weaker
on Wednesday, and again on Friday. The
enormous investments in building throughout
the country, in new railroads and manufactures.
begin to cause apprehension, and as to treasury
accommodations this fall. Secretary Fairchild is
said to DO increasingly anxious to avoid bond
purchases il possible.
Foreign trade does not look more healthy; for
! two weeks exports from New York have fallen
10 per cent. below last year, while imports aver
age about 16 per cent larger than last year.
The wheat movement helps, and little foreign
demand for corn. and larger exports Of refined
sugar; but cotton 10 held too high for export,
though it has declined an eighth and pork prod
ucts and oil are practically unchanged
Interior reports are very favorable for the sea-
SOD, GuouRn pToSpoctS are NOT always
reliable, and exchanges continue large, but re-
fleet past rather than new trade. Tho settle
ment of important labor troubles gives salts
faction but rise in wages means larger cost OF
production, with possible decrease in demand
While the situation is not free from menacing
uncertainties, operations under the interstate
law continue to lessen fears that account
Litigation under the act multiplies every week,
however. and must, for a time involve doubt
to the value of many properties
The business failures during the last seven
her. for
Canada. 49, total. 154 against 181 last week,
and 179 for the corresponding week of last year.